During Tuesday’s Republican presidential primary debate, former House Speaker Newt Gingrich accused Dodd-Frank Act sponsors of breaking the law.
“In Chris Dodd’s case, go back and look at the Countryside deals,” Gingrich said, NewsMax.com reports. “In Barney Frank’s case, go back and look at the lobbyist he was close to at Freddie Mac.”
Gingrich went further, suggesting that both former Senator Chris Dodd (D-Conn.) and Rep. Barney Frank (D-Mass.) should face the possibility of jail time for using poor judgment, which Gingrich alleges caused the meltdown of the economy in 2008.
Other Democrats leaders Gingrich holds responsible for the financial meltdown include Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner.
“Bernanke has in secret spent hundreds of billions of dollars bailing out one group and not bailing out another group,” Gingrich said, according to NewsMax.com. “I don’t see anybody in the news media demanding the kind of transparency at the Fed you would demand of every other aspect of the federal government, and I think it is corrupt and wrong for one man to have that sort of secret power.”
Gingrich has previously said he wants the Fed to release every “decision document” from 2008, 2009 and 2010 to the public.